DP World closes acquisition of Unifeeder, boosting hinterland and multimodal ability
DP World has announced the successful closing of the acquisition of 100% of the Unifeeder Group (Unifeeder), an integrated logistics company with the largest and best-connected feeder and growing shortsea network in Northern Europe with connectivity to approximately 100 ports.
Unifeeder operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, serving both deep-sea container hubs and the intra-Europe container freight market.
The transaction valued at €660 million (US $751-million) will enhance DP World’s presence in the global supply chain and broaden its services to customers – both shipping lines and cargo owners – with a view to ultimately reduce inefficiencies and improve the competitiveness of global trade.
Unifeeder’s current operations, which offer a unique platform for independent logistics solutions, are complementary to DP World’s existing business and offer future growth opportunities, DP World said in a statement.
“We are delighted to close the Unifeeder acquisition and add their business to our portfolio. With Unifeeder, we are acquiring a leading port related logistics solutions provider in Europe as part of our strategy to grow in complementary sectors,” said Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World. “This transaction is very relevant to our business and provides future growth opportunities, especially that feedering and shortsea/regional transports with smaller vessels have become more important for shipping lines with the use of larger vessels by shipping alliances.”
“Our core business is and will continue to be the container terminal, but this acquisition fits with our strategy to diversify our revenues and extend our core business to play a wider role in the global supply chain and connect directly with cargo owners and aggregators of demand, ultimately improving the quality of our earnings and driving returns,” he added.